Five crypto exchange companies have cleared Vietnam’s preliminary regulatory review, though none has received an operating license. To Tran Hoa, deputy head of the State Securities Commission’s Digital Asset Trading Market Board, disclosed the progress at the Vietnam RWA Summit 2026. The development advances Vietnam’s five-year digital asset market pilot under Resolution No. 05/2025/NQ-CP. Exchange applicants must hold at least 10 trillion Vietnamese dong ($383 million) in capital, with institutional shareholders providing 65%. New regulations effective September 1st impose fines for unauthorized services and compliance violations, though investor penalties remain on hold until a licensed provider is established.
Five crypto exchange companies have cleared Vietnam’s preliminary review but none has received an operating license. To Tran Hoa, deputy head of the State Securities Commission’s Digital Asset Trading Market Board, disclosed the progress at the Vietnam RWA Summit 2026, according to a report.
Resolution No. 05/2025/NQ-CP establishes Vietnam’s five-year digital asset market pilot. Exchange applicants must hold at least 10 trillion Vietnamese dong ($383 million) in contributed capital, paid entirely in dong.
Institutional shareholders must provide at least 65% of the capital. More than 35% must come from at least two eligible organizations, including commercial banks, securities firms, fund managers, insurers, or technology companies.
Applicants need an appraisal confirming their infrastructure meets Level 4 information-system security standards. The Ministry of Public Security must complete this evaluation before operations begin.
Regulation 284/2026/ND-CP takes effect September 1st and addresses unauthorized services, illegal token issuance, and anti-money laundering violations. Entities offering services without permission face fines between 180 million and 200 million dong.
Licensed operators violating fund segregation or transaction monitoring rules are subject to sanctions. Companies negligent in customer identity verification face fines between 50 million and 70 million dong.
Trading outside a licensed provider carries organizational fines of 30 million to 50 million dong. Individual fines range from 15 million to 25 million dong.
Investor penalties will not apply from September 1st. Resolution 05 provides a six-month transition period after the first licensed provider begins operating. No licensed provider exists yet, so the time limit has not started. Domestic investors will not face fines from September 1st for activity on unlicensed platforms.
